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Bitmain News: Co-Founder Micree Zhan Will Fight to Return to Company
November 07  |  2 min read

Micree Zhan Promises to Legally Fight His Way Back to Bitmain

The COIN360 Editorial Team

Micree Zhan, Bitmain co-founder and former executive director, who was ousted last week by another co-founder, Jihan Wu, claims that he will return “as soon as possible with legal support” and “restore the normal order of the company.” In a public letter posted on his WeChat feed, Micree expresses his embarrassment and argues that he was dismissed from all his positions without any consent or prior notice.

As COIN360 reported earlier, Bitmain suffered a coup last week, with Jihan Wu, Bitmain’s co-founder, ousting another co-founder, executive director and Bitmain shareholder, Micree Zhan. Bitmain officials soon confirmed that Wu’s decisions would be effective immediately.

The community made fun out of Micree’s letter calling it too dramatic and movielike and using hashtags like #BitmainDrama and #BitmainCivilWar. Dovey Wan, the founding partner at Primitive Ventures, claimed that it was the first time she saw a public letter from a company CEO “sound like a movie script”:

Micree Zhan writes a public letter to Bitmain employees and shareholders

She also translated and shared some other highlighted parts of the letter, for instance:

  • “I only know this can happen in the film and television dramas that the ‘brother’ who has been the most trusted partner and fought together, would actually stab you in the back”;
  • “If someone wants a war, let’s give them one!”;
  • “Bitmain’s brothers and sisters, shareholders, please don’t worry.”

Micree ended his emotional letter by envisioning a better future for Bitmain:

Micree Zhan foresees Bitmain achieving its goal of holding 90% of the Bitcoin mining market